Arco sale could boost California gas prices further

12:40 AM,
Mar. 5, 2013

Written by

tom elias

Premium grades of gasoline already go for more than $5 per gallon in some parts of California; regular has been above $4.50 for a month at hundreds of service stations. There is no promise these near-record price levels will drop anytime soon, especially with summer approaching and refiners making more expensive California-specific blends for the next few months. But consumer advocates warn that a proposed purchase of BP's Arco gasoline refinery and its company-owned stations by Texas-based Tesoro Corp. may cause prices ...